Dominguez, Kathryn M.E; Tesar, Linda L. - 2022
currency board and capital flows, and the inescapable link between fiscal and monetary policy. Argentina inadvertently entered … into a vicious circle with financial markets -- one in which it felt compelled to raise the exit costs from the currency … board in order to maintain the regime%u2019s credibility. As exit costs mounted, financial markets became increasingly …